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4min chapter
Navigating A "Structural Shift" In Markets | Joseph Wang & Martin Pelletier
Forward Guidance
Is Duration the Main Risk of 2022?
duration is basically interest rate risk. So if you have something that's maturing and say 30 years with a very small coupon, then that asset is very sensitive to changes in interest rates. And so last year, when you saw the US Treasury market suffer significant drawdowns, you also saw these tech stocks also take a big beating. One of the things I've noticed is that the market always thinks that the future looks like the past.
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